A year ago it was reported that venture firm Sigma Partners planned to split its east and west coast offices into separate funds, and the east coast firm, Sigma Prime Partners, appears to be raising up to $150 million for its first fund, according to a federal filing from the end of March.

Sigma Prime would not comment on the new fund, which based on Sigma’s investment record will most likely be focused on early stage deals.

When Fortune’s Dan Primack reported news of the east-west split in March 2011, he reported that the east coast fund, led by Bob Davoli, would be looking to raise $250 million.

Q1 saw some significant venture fundraising, led by Andreessen Horowitz and Tiger Global Management, but the overall data is fairly muddled. Dow Jones reported a 5% increase in capital raised and a 34% increase in fund closings compared to Q1 2011, including an uptick in early stage funds. Meanwhile, Thompson Reuters and the NVCA reported capital raised down 35% and funds closed down 9%.

So is it a good time to be raising a venture fund? Sounds like a definite maybe.

Boston firms that closed a fund in Q1 include Summit Partners, Flagship Ventures, Bain Capital, NextView, OpenView, and Charles River Ventures.

We’ll keep digging on Sigma Prime and will update with any new information.